The EUR/GBP pair gapped lower at the open on Monday, and then fill that gap, only to turn back around and form a fairly negative candle. Ultimately, this
The EUR/GBP pair gapped lower at the open on Monday, and then fill that gap, only to turn back around and form a fairly negative candle. Ultimately, this market looks as if it is going to test the 0.70 level, and perhaps even break down below there. However, it’s not until we clear the 0.70 level below that we feel comfortable selling at this point. Rallies should be selling opportunities on resistive candles above, as the downward pressure seems to be picking up in this particular market. Ultimately, if we can break down below the 0.70 level, the market should then reach towards the 0.68 handle.
EUR/GBP Forecast November 17, 2015, Technical Analysis
Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.
